Market correction continues
After early 2011 peak market is still correcting itself. The bench mark Colombo All Share Index lost nearly one percent or 57.58 points to close at 5872.94 while MPI lost 62.72 points to end the day at 5020.43. Total turnover for the day amounted to 434.51 million rupees. Commercial Bank of Ceylon Plc (COMB) was accounted highest turnover for the day. 1,418,000 shares of COMB changed hands during the day and closed 10 cents lower at Rs 99.90.
130 stocks lost their value during the trading session and only 37 stocks managed to close higher. Environmental Resources Investments Plc (GREG) was down by further two rupees and ten cents to close at Rs 29.90. Index heavy weighted Sri Lanka Telecom Plc (SLTL) was down by 1.70 and closed at Rs 46.10. However only 700 SLTL shares traded during the day. Hatton National Bank Plc closed at Rs 145.10, down 6.90.
Hemas Holdings Plc a diversified group was up by 1.20 to close at Rs 31.50. Riverina Hotels Plc closed Rs 5.30 higher at 110.00.
Foreigners sold 161.63 million worth of stocks and purchased stocks valued at Rs 118.12 million.
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Tagged with: Colombo Stock Exchange • cse • daily
Filed under: Daily Stock Market Report
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Hope following news will help to boost CSE investor confidence….
Sri Lanka SEC to give credit ruling on Jan 16
Jan 12, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission will make a decision on relaxing credit rules on Monday, the watchdog said in a statement.
Sri Lanka’s brokers and influential high net worth investors having been pressing the SEC to relax broker credit rules and a ‘price band’ on volatile stocks, which were imposed to limit credit driven stock purchases and manipulation of illiquid shares.
Some market analysts are expecting the SEC to allow brokers to give around three times net capital.
Colombo stocks came off highs ending the year 8.5 percent down, and brokers have blamed credit curbs for the correction.
Source http://www.lbo.lk/fullstory.php?nid=41162500